’17 Charts

Gravitational Pull

| 50Pips
“Every revolution seems impossible at the beginning, and after it happens, it was inevitable.” – Bill Ayers
No real change to what we have been highlighting this week as we have been updating our latest Weekly Outlook Video.
It finally looks like some moves are starting to come in. As discussed, there have been far too many warning signals and dislocations that rarely manage to hold a sustained pace. We do not really follow things like the  Hindenburg Omen (just triggered on both the NYSE and Nasdaq) but we’ll take anything that seems to play towards our book 😉
As we approach NFP and the French election, we remain focused on the following charts:
As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

 

Chart Focus

| 50Pips
“Too many people today know the price of everything and the value of nothing.” – Ann Landers
Hereafter some charts posted earlier on Twitter. Let’s see how the market positions into NFP and weekend risk. Should be interesting…

As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

Contrarian Corner

| 50Pips
“The four most dangerous words in investing are: ‘this time it’s different’.” – John Templeton
Very little to add to the discussion and view from our latest Weekly Outlook Video. If you haven’t had time to go through it, we would recommend you catch up on this review. There is no point sounding like a broken clock, we’ll just let the charts and moves play out.
Today’s focus: GBP o/n news and through data, Apple, NQ vs other indices, continued pressure on Crude, DXY positioning into and post FOMC.
Last but not least, might want to keep an eye on Silver…

 

The Right Beat?

| 50Pips
“The mind, if focused, can become the most powerful force we know… The primary means of exploration is through concentration of the mind. Practitioners first select an aspect and delve into it by daily focus. Only when they have fully understood do they go on. It is like studying. When you are first introduced to a subject, you must put your attention to work in order to master the knowledge. Such concentration leads to absorption, like mixing liquids together in a bottle : Once they are combined, they cannot be distinguished from one another… With concentration, all the various aspects of the mind can be joined together into one superconscious mode.” – 365 Tao: Daily Meditations
As discussed in our latest Weekly Outlook Video all the charts are not marching to the beat of the same drum. This was not only apparent from all of the examples we look at last week but also highlighted again with the action we saw yesterday on the Nasdaq vs the other Indices whilst the VIX printed in the single digits – all on far from spectacular volumes.
As we have continued to stress, despite the fact that market can continue to extend these dislocations, sooner or later, something has to give. It will be interesting to see if the Nasdaq can continue to press on dragging all of the other charts with it through FOMC and NFP or if, as we suspect, it’s the Nasdaq that will have to deal with some gravitational pull. Either way, the only constant will be that we should see some fairly decent size moves in the not too distant future.
Don’t forget to keep an eye on those tight ranges from last week in DXY and Crude.
As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

Food For Thought

| 50Pips
“Instinct must be thwarted just as one prunes the branches of a tree so that it will grow better.” – Henri Matisse
If you missed our video updates this week, you can always catch up on our most recetn thinking through these links for the weekly outlook video and/or the mid week morning call.
We’ll keep things simple going into the weekend, just highlighting some of the charts we are keeping an eye on. Don’t forget that today is the last trading day of the month and that we’ll have a lot of data flow to get through. As usual, no change to the way we like to be positioned going into the weekend… btw, we’ll start the charts with the VIX; still no fear 😉
As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

The Boy Who Cried Wolf

| 50Pips
“Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.” – Stephen Covey
It’s time for someone to deliver and we all know what happens when you don’t… the clock is ticking. Failure to do so will likely see and unwind of equity longs and more sustained dollar weakness.
We updated our weekly outlook video with a brief morning call yesterday and patiently await the BOJ and ECB.
Keep an eye on these levels:
As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

All About Wednesday?

| 50Pips
“Most people do not listen with the intent to understand; they listen with the intent to reply.” – Stephen R. Covey
As we said on twitter and discussed in the most recent weekly outlook video, there is a big difference between the market covering hedges and outright risk-on buying. The proof is in the pudding and we’ll have to see how we get through this week with escalating tensions in North Korea, the Wednesday Trump tax extravaganza, ECB/BOJ Thursday and more potential inventory builds. The waiting games continues…
As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

Keep the Faith

| 50Pips
“Indecision and procrastination are corrosive habits. Those who wait for every little thing to be perfect before they embark on a project or who dislike the compromise of a partial solution are among the least happy. Ideal circumstances are seldom given to anyone for an undertaking. Instead there is uncertainty in every situation. The wise are those who can wrest great advantage from circumstances opaque to everyone else.” – 365 Tao: Daily Meditations
We updated our latest Weekly Outlook Video, in a fairly lengthy Morning Call yesterday where we managed to cover most of the recent dynamics and the most interesting opportunities on the board.
Nothing much to add to what we have been discussing. Moves in play…
If you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

 

Snooze Inside Range

| 50Pips
“There is a side of the Moon which we never see, but that hidden half is as potent a factor in causing the ebb and flow of the Earth’s tide as the part of the Moon which is visible.” – Max Heindel
As discussed in our latest Weekly Outlook Video, we’ll have to be patient around these key levels as the charts have a bit of wiggle-room here.
If you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.